Clovis agrees to sell oncology drug Rubraca to Pharma& Schwiez.
Clovis Oncology (in bankrupcy) has agreed to sell its approved cancer drug Rubraca to a privately held Austrian company as part of an auction associated with its ongoing bankruptcy proceedings.
Clovis Oncology (in bankrupcy) has agreed to sell its approved cancer drug Rubraca to a privately held Austrian company as part of an auction associated with its ongoing bankruptcy proceedings.
Pharma& Schwiez submitted the highest bid at the auction, according to a regulatory filing, and will pay $70 million upfront for rights to Rubraca, which is approved in the U.S. for prostate and ovarian cancers. The company could pay another $65 million if certain regulatory and sales milestones are later met.
The sale is subject to approval by the U.S. Bankruptcy Court for the District of Delaware, where Clovis filed in December 2022 for Chapter 11 bankruptcy protection.
150 mins
Learning Zones
The Learning Zones are an educational resource for healthcare professionals that provide medical information on the epidemiology, pathophysiology and burden of disease, as well as diagnostic techniques and treatment regimens.